Don’t Forget Your July 31 Payment on Account
Editor | 22 July 2019
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If you pay taxes through HMRC’s Self Assessment system, you need to make sure you settle your second payment on account by the end of this month.

 

A payment on account is an advanced payment towards your tax bill, including income tax and Class 4 National Insurance if you’re self-employed.

 

Finance Bill Confirms Private Sector IR35 Details
Editor | 15 July 2019
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The Treasury has published the Finance Bill 2019-20 , which confirms a number of important details about the upcoming IR35 reforms in the private sector.

 

Ignoring some of the recent calls for the reforms to be delayed, the bill confirms that off-payroll rules will be extended to the private sector from 6 April 2020.

 

In line with the changes in the public sector, private sector clients will be responsible for assessing a contractor’s IR35 status. Previously, this responsibility lay with the contractor.

 

HMRC Pressed For IR35 CEST Tool Release Date
Editor | 3 July 2019
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HMRC is under pressure to say when the new improved IR35 ‘Check Employment Status for Tax’ (CEST) tool will be released, as stakeholders point out flaws with the current version.

 

The tax authority has confirmed that its CEST tool will undergo enhancements before IR35 reforms are extended to the private sector from April 2020.

 

But so far, little is known about what updates will be applied and when the new tool will be available.

 

Tom Bescoby Wins June Umbrella.co.uk Employee of the Month
Editor | 17 July 2019
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The accolade of “Employee of the Month” was presented today to Tom Bescoby. Tom has been with Umbrella.co.uk for almost three years and is one of our hardest working Account Manager’s. Tom’s personable and friendly disposition ensures that he’s always engaging with our clients. Tom receives a glowing recommendation from many of our clients who benefit from his fast, efficient and reliable service.

Richard Perch, Account Director, who works alongside Tom said “Presenting this award to Tom was a real pleasure. He’s a real inspiration to the industry and we’re very proud of him. We hope he enjoys the Champagne with friends and family. Working alongside Tom I can testify as  to how passionate he is in trying to deliver the ultimate service to our clients”. 

NHS Locum Contractor Wins Partial IR35 Tax Case
Editor | 11 July 2019
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An IR35 ruling on a case involving a urologist who worked for two different hospitals could have important consequences for medics operating as locums and NHS off-payroll working rules more generally.

In the tax tribunal case between a locum urologist and HMRC, a judge ruled that one of the contractor’s hospital contracts was inside IR35, while off-payroll working rules did not apply in the other.

Limited Company Contractors Can Benefit From Open Banking

Open Banking is set to modernise bookkeeping for limited company contractors, with banking data integrated directly into online accounting software.

Umbrella.co.uk's limited company contractors all use FreeAgent’s cloud accountancy software to simplify their accounting. And with FreeAgent on the forefront of the Open Banking changes, bookkeeping is about to get even easier.

Open Banking is set to roll out to all FreeAgent customers soon, so we thought we would take an in-depth look at the changes and how they can benefit limited company contractors.